The Strongest Signal in Technical Analysis: Divergences and Trend Reversals. Alexander Elder
All trading on the stock exchange and forex market is based on tracking technical or fundamental analysis signals.
These signals allow you to open the most profitable trades and trade with maximum efficiency.
There are several core signals in technical analysis that have proven their usefulness over the years.
These are the topics discussed in Alexander Elder's book, "The Most Powerful Signal in Technical Analysis: Divergences and Trend Reversals."
The author needs no introduction: Alexander Elder is a recognized trading guru who has dedicated many years to trading on the stock exchange and written numerous books on the subject.
The title itself makes it clear what this book covers, but let's, as usual, review its summary:
2. Bearish divergence – when it occurs, what it portends and how it behaves MACD indicator.
3. Exercises for readers – to help identify bullish and bearish divergences on currency pair charts.
4. Conclusions, stop orders, and target profit – a clear description of market entry points based on the signals described above. Order placement locations stop loss and take profit.
5. Additional information on working with divergences – using other indicators, different time scales, searching for divergences on charts.
This book can hardly be called a full-fledged textbook; it is more of a methodological manual, but this does not make it any less interesting or useful.
The ability to accurately identify at least two of the signals described in it will already make your trading more effective.
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